Which of the Following Statements About the Minimum Vesting Standards

Multiple Choice

Which of the following statements about the minimum vesting standards for a qualified defined benefit plan is (are) true?
I.Under cliff vesting,an employee must be at least 50 percent vested after 5 years of service.
II.Under graded vesting,an employee must be at least 20 percent vested after 3 years of service and 100 percent vested after 7 years.

A) I only
B) II only
C) both I and II
D) neither I nor II